Vancouver, British Columbia – February 1, 2018 - Alba Minerals Ltd. (“Alba”) (TSX-V: AA.V: AXVEF:US Frankfurt: A117RU) and Noram Ventures Inc. (TSX-Venture: NRM and Frankfurt: N7R) (“Noram” or the “Company”) are pleased to announce a new round of drilling on the Clayton Valley Lithium Project. The companies announced on November 21, 2017 an Inferred Mineral Resource1 on the Zeus property of 17.1 million metric tonnes at a grade of 1,060 ppm Li, which equates to 96,476 Lithium Carbonate Equivalent ("LCE").
Drilling in 2017 on the Clayton Valley project successfully outlined a significant lithium clay resource to an average depth of just 50 feet (15.24 meters). Many of the drill holes ended in significant mineralization, and there is the potential to expand the deposit to greater depths. Pending new drill permits, a recently constructed drilling rig will test to a depth of 300 feet (91.44 meters) on nine of the drill sites within the Inferred Resource boundary. A second phase of eleven drill holes is designed to expand the resource outside the Inferred Resource boundary along strike to the southwest and northeast. Alba/Noram’s independent technical consultant, Bradley Peek, MSc and CPG, will oversee drill operations.
“We are excited to commence drilling again at Clayton Valley. There is ample room for expansion at depth and along strike near the presently outlined resource. We are also keen on gaining a better understanding on non-hectorite lithium enrichment of the resources, as discussed by Cypress Development Corp. regarding their adjoining lithium property. Initial testing by Cypress indicated a significant portion of the lithium is water-soluble. “If this is the case with our deposit, this could significantly reduce the cost of extraction technologies.” says Alba CEO Sandy MacDougall.
The technical information contained in this news release has been reviewed and approved by C. Tucker Barrie, Ph.D., P.Geo., who is a Qualified Person as defined under National Instrument 43-101.
1. Peek, B., and Spanjers, 2017, NI 43-101 Technical Report: Lithium Inferred Mineral Resource Estimate, Clayton Valley Esmeralda County, Nevada, USA: for Alba Minerals Ltd. And Noram Ventures, 67 p. see: https://www.albamineralsltd.com/site/assets/files/2157/2017-11-23-clayton-valley-43-101-report.pdf
About Alba Minerals Ltd
Alba Minerals Ltd. is a Vancouver based junior resource company, with projects in North and South America, focusing on the development of lithium properties. Lithium Projects are located in: 1) Clayton Valley Nevada, where the properties are a 50% - 50% joint venture between Alba Minerals Ltd. and Noram Ventures Inc.; and 2) in Salta Province, Argentina: the Quiron II prospect, a 2,421 hectare exploration property located 15 km south of the Ady lithium brine production site and 7 km northeast of Pure Energy Resources’ Terra Cotta lithium brine project; and the Chascha Norte lithium property.
Please visit our web site for further information: www.albamineralsltd.com
About Noram Ventures Inc.
Noram Ventures Inc. (TSX-V: NRM Frankfurt: N7R OTCBB: NRVTF) is a Canadian based junior exploration company, with a goal of becoming a force in the Green Energy Revolution through the development of lithium and graphite deposits and becoming a low-cost supplier for the burgeoning lithium battery industry. The Company’s primary business focus since formation has been the exploration of mineral projects that include lithium projects in the Clayton Valley in Nevada, the Arizaro East mineral claim located in the eastern portion of the Salar de Arizaro in northwestern Argentina and the Jumbo graphite property in British Columbia. Noram’s long term strategy is to build a multi-national lithium-graphite dominant industrial minerals company to produce and sell lithium and graphite into the markets of Europe, North America and Asia.
Please visit our web site for further information: www.noramventures.com
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ “Sandy MacDougall”
Direct: (778) 999-2159
Alba Minerals Ltd.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.